ATLANTA-It is not every day that the owner of a 400,000-square foot office building is able to renovate it without help from a lender. But Atlanta-based Westplan Investors, a boutique commercial real estate firm, which owns the 55 Marietta Street building in downtown Atlanta, is just such an owner. The building, which is 55 years old, just received a $5 million renovation paid for by Westplan.
The renovation of 55 Marietta Street included, in addition to cosmetic touches, such as an upgraded lobby and renovation of the 3,000 to 4,000 square feet of ground floor retail, new transformers to generate more power and more backup generators.
The main rationale for beefing up the power is that half the building is a telecom hotel with tenants like Cyberwurxz, Q West and Cogent. A big part of these companies' business is hosting websites.
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